News

February, 2017

• 14 February

  Poor Service Cost Retailers $150 Billion Last Year. Could Mobile Tech Stem the Loss?

  

  By John Stewart @DTPaymentNews Brick-and-mortar retailers are struggling to keep up with online stores, but they’d struggle far less if they could better deploy in-store technology, according to a report issued Tuesday. A big issue for shoppers is lackluster customer service, which last year cost retailers $150 billion in lost …
• 14 February

  Mobile Commerce Comprises 21% of All Online Commerce, comScore Says

  

  By Kevin Woodward@DTPaymentNews How enthusiastic are consumers about shopping on their smart phones and tablets? Enough that mobile commerce grew to $22.7 billion in the fourth quarter of 2016, up 45% from $15.6 billion in the same period a year prior, says comScore Inc., a Reston, Va.-based data-measurement firm. That …
• 14 February

  After Absorbing Wincor Nixdorf, Diebold Looks to a More Diversified Future

  

  Diebold Nixdorf, the ATM manufacturer formed last August when North Canton, Ohio-based Diebold Inc. bought Germany’s Wincor Nixdorf AG, on Tuesday reported results for its first full quarter as a combined company. The merged firm, double the size of the former Diebold Inc., is now looking to expand globally and …
• 14 February

  iPayments Inks Company.com Deal and other Digital Transactions News briefs

  • Merchant processor iPayment Inc. will offer business services to its client base from cloud-based provider Company.com under a new agreement between the companies. • Merchant processor Fidelity Payment Services has selected PAX Technology as its preferred provider of EMV terminals and PIN pads. • Virtual Piggy Inc. announced it is working with …
• 13 February

  First Data Turns a Profit But Is Still Working To Lower Small-Merchant Attrition

  

  Leading payment processor First Data Corp. on Monday reported positive net income for the fourth quarter and all of 2016, a turnaround from losses for both periods a year earlier, but it’s still working to improve mediocre revenue growth in its merchant-acquiring business. Atlanta-based First Data posted net income of …
• 13 February

  TA Associates Makes Retriever Investment and other Digital Transactions News briefs

  • Canada-based RDM Corp., a maker of point-of-sale check scanners and developer of remote deposit capture software, has agreed to be acquired by check printer Deluxe Corp. for approximately $70 million U.S. in cash. • TA Associates, a private-equity firm, announced an investment in Retriever Medical/Dental Payments LLC, a payments provider for …
• 10 February

  A Payments-Industry Divide Opens in the Debate About Dumping the Durbin Amendment

  

  By Jim Daly@DTPaymentNews For more than six years, most of the debate about the Dodd-Frank Act’s Durbin Amendment has been relatively straightforward. Merchants like Durbin because they pay less in debit card acceptance costs under the amendment’s interchange price cap affecting card issuers with more than $10 billion in assets. …
• 10 February

  PayPal Cooperating with Dept. of Justice Subpoena and other Digital Transactions News briefs

  • PayPal Holdings Inc. reported in a filing that it has received subpoenas from the U.S. Department of Justice “seeking the production of certain information related to our historical anti-money laundering program.” PayPal said it is cooperating with the DoJ and cannot predict the outcome of the government’s investigation. • A point-of-sale software …
• 9 February

  USA Technologies’ Cashless Rollout Speeds Along, But Profits Elude the Vending Specialist

  By Kevin Woodward@DTPaymentNews Six Pepsi-licensed bottlers will use USA Technologies Inc.’s cashless payments devices in 2,120 vending machines, the Malvern, Pa.-based vending-payments specialist announced Wednesday. USAT also released its fiscal second-quarter earnings showing revenue at $21.8 million, but a year-to-date loss of $2.2 million. The Pepsi bottler announcement—for a cooperative …
• 9 February

  Fiserv Posts 4Q Results and other Digital Transactions News briefs

  • KeyBank and First Data Corp. announced an agreement under which the bank will offer First Data products and services, including the Clover line of mobile point-of-sale technology, to its merchant clients across the country. • Financial-institution processor Fiserv Inc. said fourth-quarter adjusted revenue in its payments segment grew 9% year …